BioMap, a Chinese AI-driven R&D platform that focuses on precision medicine, has raised $100 million in a Series A round led by global investment firm GGV Capital.
The round was joined by new investors including Chinese search engine giant Baidu, Legend Holdings’ Legend Capital, Bluerun Ventures, as well as Xiang He Capital, a TMT focused venture capital firm co-founded by Baidu’s former executives Hesong Tang and Maggie Yang.
Robin Li, the founder of Baidu and a co-founder at BioMap, made a follow on investment in the Series A round, according to a company statement on Friday.
With the new proceeds, BioMap will invest in technology innovations and talent pool advancements.
Co-founded by Li and former Baidu Ventures’ CEO Wei Liu in November 2020, BioMap leverages AI and frontier biotechnologies for new therapeutics and diagnostic products. BioMap’s treatments mainly target oncology, autoimmune and fibrotic diseases.
In the statement, BioMap said it has initiated a plan to facilitate the research of immune repertoire. Besides offering self-owned data and technologies, BioMap will bankroll a total of 1 billion yuan ($155 million) for the initiative.
As of now, it has received applications from a batch of Chinese leading institutes like the China Academy of Sciences, Peking University, Tsinghua University, and Fudan University, among others.
In addition, Beijing-based BioMap has also embarked on the construction of a laboratory that can help it achieve one-stop drug discovery and development leveraged by AI.
“The fields related to AI and life sciences have the best potential in the 21st century, while AI-driven drug discovery is widely known as one of the most sought-after accelerators in life science,” said GGV Capital partner Chenxiao Wu in the statement.
Earlier this month, GGV Capital had invested in precision medicine peer Geneplus Technology for its 750 million yuan ($116 million) Series C round of financing.